One investor reportedly took a third of Viking’s share sale

Investing.com -- Viking Therapeutics Inc. completed a $500 million capital raise through a two-part offering, with one investor acquiring approximately one-third of the shares in the upsized equity portion, Bloomberg reported Thursday.

The obesity drug developer raised $275 million through a stock offering and an additional $225 million from the sale of six-year convertible bonds, according to a company statement.

The stock offering drew demand for several times the available shares after being increased in size, according to people familiar with the matter who requested anonymity. More than 75% of the offering was allocated to 10 investors, the people said.

Viking Therapeutics shares fell 15% on Thursday.

Morgan Stanley, JPMorgan Chase & Co., Jefferies Financial Group Inc., Leerink Partners and William Blair managed the convertible bond offering. The same group, along with Raymond James Financial Inc., worked on the stock offering.

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